CP Daily: Monday July 20, 2015

Published 19:10 on July 20, 2015  /  Last updated at 01:08 on July 29, 2015  /  Newsletter  /  No Comments

A daily summary of our top news plus bite-sized updates from around the world.

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OUR TOP NEWS:

EU carbon tops €8 for first time since 2012 as power, supply cuts fuel rise

European carbon topped €8 on Monday for the first time since 2012, as prices rose by as much as 3.4% on a mix of utility and speculative buying due to higher German power prices and ahead of lower auction volumes next month.

 

Canadian provinces’ energy plan weak on climate actions but pushes for market-based solution

Canada’s provincial premiers, after three years of talks, agreed a national energy strategy on Friday, which seeks to promote the use of market-based mechanisms to cut greenhouse gas emissions but contains mainly vague goals rather than firm pledges.

 

Analysts up EUA price forecasts on more industry hoarding

Analysts at Thomson Reuters Point Carbon have increased their EUA price forecasts to 2020 as a lower-than-expected free allocation for industry next decade means more factories will opt to hoard their surplus units.

 

Court dismisses Oklahoma AG’s lawsuit against EPA over Clean Power Plan

A federal court in Oklahoma on Friday dismissed a lawsuit filed by the state’s Attorney General Scott Pruitt against the EPA’s Clean Power Plan, calling the suit premature and lacking in jurisdiction.

 

Marshall Islands to cut GHG emissions by a third by 2025

The Pacific island nation of Marshall Islands on Sunday became the first small island state to pledge a post-2020 climate target, promising to cut its GHG emissions to 32% below 2010 levels by 2025.

 

CCAs see modest losses after sell-off

California carbon prices steadily lost ground over the week amid healthy supply, but losses were modest at 5 cents and the trend was unlikely to be long-lived, traders said.

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Job listings this week:

Analyst, Carbon Trust – London
Manager, Ecosystem Marketplace – Washington DC
Policy Associate, Center for Clean Air Policy – Washington DC
Energy Finance Senior Analyst, Climate Policy Initiative – London
Energy Finance Senior Analyst, Climate Policy Initiative – San Francisco
Energy Finance Analyst, Climate Policy Initiative – San Francisco
Climate and policy platforms, Cambridge Institute for Sustainability Leadership – Brussels
Team Leader, Support to Indonesia’s climate change response, GIZ – Jakarta
Researcher, NewClimate Institute – Berlin/Cologne

Or click here to see all our job adverts

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Bite-sized updates from around the world:

German energy minister Sigmar Gabriel has called his energy reforms a “historic pact for new prosperity” but what he didn’t say was that the compromise would cost power consumers and taxpayers around €10 billion more than the originally planned climate levy for old coal-fired power stations, write Angela Hennersdorf and Marc Ethold in the WirtschaftsWoche (in German, courtesy of Clean Energy Wire).

India should shape the conversation leading up to Paris, above all by highlighting its domestic actions, so that the world doesn’t just ask what India can do to make Paris successful, but also asks what others can do, and above all, begins by asking what the others have not yet done, writes Arvind Subramanian, chief economic advisor to the Indian government, in this op-ed. (World Economic Forum/Vox).

How development banks can help restore faith in a Paris climate deal – To truly tackle climate change, we’ll need to mobilize Scrooge McDuck-level rivers of cash — and most of it will need to flow to developing countries. But most wealthy countries have committed only paltry sums to this end so far, despite signing a 2010 pledge to raise $100 billion annually by 2020. It may not be 2020 yet, but if you’re India or Vanuatu, the current trend doesn’t make for a lot of faith in Uncle Scrooge. (Grist)

A United Nations accord to slow global warming should be short, flexible and long-lasting to avoid complex re-negotiations every few years, according to a document prepared by France before a Paris summit in December. (Reuters)

Will Obama’s Climate Action Plan stick after 2017? Almost as soon as US President Barack Obama returns from Paris at the end of this year, hopefully having signed a global deal to tackle climate change, “silly season” will start in the United States with Republicans and Democrats once again entering into battle to run the White House. (BusinessGreen, $)

In Paris climate agreement, administration is not ‘circumventing’ Congress, writes Gwynne Taraska in a blog for The Hill.

The European Commission’s ETS review does little to address the flaws in its flagship climate policy, said NGO group Corporate Europe Observatory, which argues that the EU would be better off setting emissions performance standards on power plants and well-targeted renewables subsidies.

And finally… What scientific consensus? A complete guide to climate denial and the 2016 GOP candidates – Ranking the entire GOP presidential field, from the bad to the very bad to the you’ve-got-be-kidding-me. (Salon)

 

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